Discussion in 'Alternative Investments' started by Brendan Burgess, 2 Apr 2019.
This wasn't supposed to happen until after I had closed out my short sell position!
Some speculation the jump was triggered by people falling for an April Fools story on the SEC approving a bitcoin ETF.
I assume you won’t sell until it approaches 0 as you predicted. Of course you will maximize your profits by waiting for your price target!!!
Hold on Bren
It very much remains to be seen if this is a tangible move upwards. However, you have to read everything with a pinch of salt when it comes to the market side of crypto - regardless of whether the story is about crypto going up or crypto going down. Publications rush to wheel out a reason - and will snatch at any old drivel ..when in reality, they don't know.
Fully agree. It's the same with the stock exchange report in the newspapers. Occasionally, they can attribute a share price rise or fall to results, but often there is no reason so they attribute it to "profit taking" or it being "over sold".
Perhaps a concerted effort by a number of the bigger players to start getting the price back up (somewhere close to where it once was) ?
Lets not forget, a lot of people could be sitting on "paper losses" at the moment, as a result of having bought into Bitcoin at higher prices, so they might be holding (and praying) ... while a number of whales could then start trying to shift the price, by buying at what they consider a low price.
I'm not convinced that this theory could result in the price ever getting back up anywhere near US$20k, but it could have some short term impact, or result in modest occasional increases.
We're probably in an accumulation phase, and there will be a few more 'shakeouts' along the way. We won't see another all time high until way beyond the next bitcoin halving (probably into 2021).
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